BILLIONAIRE businessman, Tony Elumelu, and the Managing Director/Chief Executive Officer of MOSRA Energy Limited, Olukayode Ramos, have unveiled an ambitious vision to transform Delta State into one of Nigeria’s leading industrial and investment destinations through large-scale electricity generation, coal development and strategic public-private partnerships (PPP).
In separately addresses at the Delta State Economic and Investment Summit 2026, in Asaba, on Monday, August 3, the notable indigenous investors underscored the importance of steady electricity supply, saying it is the single most important factor necessary to unlock the state’s vast economic potentials.
Elumelu, who is the Chairman of Heirs Holdings, said Delta State has already laid a strong foundation for investment through infrastructure development and prudent governance under Governor Sheriff Oborevwori, but added that sustainable industrialisation would only be possible with improved electricity supply.
While commending Oborevwori’s visionary leadership, the outgoing Chairman of the United Bank of Africa (UBA) Plc said the pace of development across Delta has become increasingly visible, noting: “Through television, social media and other platforms, I continue to see the remarkable progress being made across the state.
“Every time I see new roads, modern estates and other development projects, I ask myself, ‘where is this?’ and I am always delighted to discover that it is right here in Delta State.
“It makes me immensely proud to be a son of Delta.”
Elumelu assured investors that Delta remained one of Nigeria’s safest destinations for business, stating: “Delta State is safe for investment. It is peaceful, hospitable and welcoming to businesses and investors from across Nigeria and beyond.”
He said every investment opportunity discussed at the Summit depends on reliable electricity, noting: “As a company operating in the power generation and electricity distribution sector, we understand that virtually everything discussed at this Summit depends on one critical factor, reliable electricity. Industrialisation cannot thrive without adequate power supply.”
He explained that Delta currently has an installed electricity generation capacity of about 1,000 megawatts in Warri, out of which only around 500 megawatts are being utilized, because of gas supply constraints and transmission evacuation challenges; hence he offered to partner with the Delta State Government to expand electricity generation and improve distribution across the state.
He said to the governor: “Your Excellency, we would welcome the opportunity to engage with your administration on how we can partner with the Delta State Government to expand electricity generation and distribution, ensuring that affordable and reliable power reaches every home, business and industry across the state.”
Elumelu stressed that greater access to electricity would stimulate industrial growth, create jobs, reduce poverty and accelerate Delta State’s economic transformation.
On his part, Ramos said Delta possessed all the conditions investors look out for, including stability, strong partnerships and abundant natural resources, noting: “In business, investment is ultimately driven by confidence.
“Investors commit their resources where they find vision, stability, strong partnerships and a predictable business environment.
“Delta State offers all of these.”
Ramos acknowledged the state’s over 200 million tonnes of proven coal reserves, located in Ogboyoga, Ubogo, Ukwuani and Ogwashi-Uku, with mining activities already underway, saying his company was already partnering with the state government to develop a 600-megawatt power plant in Ogboyoga, alongside a proposed Energy and Industrial Special Economic Zone in Aniocha Local Council.
The project, he stated, is designed to do much more than generate electricity, adding: “To put it into perspective, 200 million tonnes of proven coal reserves represent more than 30 years of guaranteed baseload power generation.
“That is enough reliable electricity to support industrial manufacturing, technology parks, mineral processing and agro-processing industries right here in Delta State without interruption.
“We are not merely generating electricity; under the MORE Agenda, we are laying the foundation for what can become West Africa’s next industrial powerhouse.”
He encouraged investors to take advantage of the opportunities currently available in the state, saying the best time to invest is before everyone else discovers the opportunity, and that time is now.
Ramos commended Oborevwori for creating an investment-friendly environment, pledging his company’s commitment to creating jobs, supporting host communities and contributing to the state’s long-term economic development.
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